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27.07.2021 19:15

Inspire Clean Energy Announces Acquisition by Shell to Accelerate Mission of Achieving a Net-Zero Carbon Future

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SANTA MONICA, Calif., July 27, 2021 /PRNewswire/ -- Inspire, a technology enabled clean energy company in the U.S., today announced it has signed an agreement to become a wholly owned subsidiary of Shell New Energies US LLC ("Shell"). As part of Shell, Inspire intends to rapidly scale its offering of access to sustainable energy to U.S. households.

"We look forward to joining Shell's talented team to achieve our energy transition goals together," said Patrick Maloney, Founder & CEO of Inspire. "We share the belief that renewable energy should be accessible to everyone and Shell's resources, reach and ownership of many aspects of the energy value chain will help us scale and advance our mission."

"Our goal is to become a major provider of renewable and low-carbon energy, and this acquisition moves us a step closer to achieving that," said Elisabeth Brinton, Executive Vice President of Renewables & Energy Solutions at Shell. "This deal instantly expands our business-to-consumer power offerings in key regions in the U.S., and we are well-positioned to build on Inspire's advanced digital capabilities to allow more households to benefit from renewable and low-carbon energy."

Inspire will operate under its existing brand within Shell's Renewables & Energy Solutions integrated power business. The Inspire leadership team and existing employee base will remain in place.

The deal is expected to be completed by Q4 of 2021, subject to regulatory approvals and the satisfaction of closing conditions.

About Inspire
Inspire is a mission-driven, technology enabled clean energy company that subscribes people to a world where energy from renewable sources is a better choice for their home and the environment. With Inspire, members receive access to clean energy and peace of mind from a predictable price for their home's electricity supply. Founded in 2014, Inspire has made it easy for hundreds of thousands of people to support clean energy, and join the fight against climate change. Inspire, a certified B-Corp, is a privately held company with headquarters in Santa Monica, CA and Philadelphia, PA.

About Royal Dutch Shell plc
Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges.  Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects. For further information, visit www.shell.com.

Cision View original content:https://www.prnewswire.com/news-releases/inspire-clean-energy-announces-acquisition-by-shell-to-accelerate-mission-of-achieving-a-net-zero-carbon-future-301342395.html

SOURCE Inspire Clean Energy

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